Skip links

Tag: IRS

NCA Alert: IRS Guidance on Payroll Tax Holiday

On August 8, 2020, President Trump announced an executive action to allow employers to provide a tax holiday for their employee’s portion of Federal Insurance Contributions Act (FICA) taxes. On Friday, August 28, the Internal Revenue Service (IRS) issued guidance to implement the Executive Memorandum.

IRS and TARS: New Accounting Regs for Repairs

Final Tangible Property Regulations (TARS) are here after a near decade-long production. Commonly called “repair regulations,” these rules try to clarify a very complicated portion of tax law. They affect all taxpayers that use tangible property in their businesses. These comprehensive regulations include more than